Four financial, investment schemes for women launched by the government in India #IndiaFinance

The government of India has launched many schemes for the empowerment of women. Last year, in Budget 2024, the Mahila Samman Scheme was launched for women investors and girl children. Sukanya Samriddhi was launched in 2015 as a part of the Beti Bachao Beti Padhao campaign, especially for girl children. Majhi Ladki Bahin Yojana and Subhadra Yojana are financial welfare schemes that will soon be launched.

Let us take a look at each of these schemes and their benefits.

Majhi Ladki Bahin Yojana

Majhi Ladki Bahin Yojana was launched in August for Women Residents of Maharastra and the last date to apply is extended to November 2024.

Eligibility

• Women Residents of Maharastra are eligible to apply online for this scheme.
• The Applicant must be a permanent resident of Maharashtra state.
• Female Applicant’s age must be between 21 to 65 years.
• All Married, Unmarried, abandoned, divorced and destitute women are eligible.
• Applicant must have a bank account on their name in any bank.
• The applicants family income must not be more than Rs 2.5 lakh.

How to apply for Mazi Ladki Bahin
Women who are not able to apply online, may contact Anganwadi Sevak/Supervisor/Chief Sevak/Setu Suvidha Kendra/Gram Sevak/Group Resource Person (CRP)/ASHA Sevak/Ward Officer/CMM (City Mission Manager)/Mnpa Balwadi Sevak/Help Room Head/ Your Sarkar Seva Kendra will have online/offline application facility available. No fee will be charged for this application.Maharashtra’s Mukhyamantri Ladki Bahin Yojana: Who is eligible to get Rs 1,500 a month, how to registerNari Shakti Doot App For Online Registration
The government has initiated a mobile application for citizens to enroll in this program. The application is called Nari Shakti Doot App and will allow users to register any beneficiaries in this initiative.

Subhadra Scheme

The Odisha government released the guidelines for Subhadra Yojana which will benefit Odisha’s state cabinet has approved Subhadra, a women’s empowerment. The scheme will be launched soon.

According to the guidelines of the scheme, each eligible beneficiary will receive Rs 10,000 per year in two equal instalments. Over five years, each eligible woman will receive a total of Rs 50,000.

The assistance will be deposited directly into the beneficiaries’ Aadhaar-enabled bank accounts, and they will also receive a Subhadra Debit Card.

All eligible women of 21-60 age group will get the benefit of the Subhadra Yojana. If there are two or three eligible women in one family, all will get the benefit. All eligible women including those who are getting widow pension and scholarship from the government will get the assistance,” the deputy chief minister said.

Eligibility
The applicant must be an Odisha native, 21 years old or older, and under the age of 60 on the deadline. For the fiscal year 2024-25, the deadline is July 1, 2024. The date will be determined subsequently by the administration during the next four years.

Women from wealthy families, government officials, and income taxpayers will not be eligible for the scheme. Women who receive Rs 1,500 or more per month or Rs 18,000 or more per year from any other government scheme will be ineligible for the Subhadra Yojana, according to the criteria.

Benefits
Each beneficiary will receive Rs 10,000 per year in two installments of Rs 5,000 each: on Rakhi Purnima and on International Women’s Day (March 8). Over five years, each qualifying lady will earn Rs 50,000. The 100 beneficiaries with the most digital transactions in each gram panchayat and urban local body will earn an additional Rs 500 incentive.

Mahila Samman Savings Certificate

Mahila Samman Savings Certificate, 2023 is a small savings scheme by Govt. of India for women beneficiaries. It aims at inculcating the habit of savings among the women of India.

Eligibility

• A resident Indian woman beneficiary – Age no bar.
• Accounts can be opened for and on behalf of a minor girl by her natural/legal guardian.
• Interest
• The scheme has rate of interest 7.5% per annum.
• The interest shall be compounded quarterly and credited to the account.
• The eligible interest shall be paid at the time of closure/pre-closure/partial withdrawal of the account.

Maturity
The deposit under this scheme matures on completion of 2 years from the date of deposit.

Sukanya Samriddhi Yojana

The Sukanya Samriddhi Account is designed to provide a bright future for your girl child. It offers a high interest rate of 8.2% and tax benefits under 80c.

Eligibility

• The account can be opened by the natural or legal guardian for a girl child of age below 10 years.
• A depositor can open and operate only one account in the name of a girl child under the scheme rules.
• Natural or legal guardian of a girl child are allowed to open the account for two girl children only.

Features
Account holders can invest a minimum of Rs 250 and a maximum of Rs 1,50,000 in a single financial year. If the minimum amount of Rs 250 is not deposited in any financial year, they will be penalized Rs 50. Deposits can be made in an account for up to 14 years from the date of opening. The account will mature after 21 years from the date of opening, but if the account holder gets married before the 21-year period is up, she won’t be able to use the account after her marriage.